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Technical analysis for the AUD/USD – 06.11.2015

The price failed to hold below 0.7150 support and consolidated. Trading is currently carried out at 0.7160/70 marks. Indicators suggest further bearish development, both R% and MACD joined SS, which had turned down earlier, which gives reasons to expect decline towards the key support at 0.7070/80. However, until the price holds below 0.7150 mark, bulls have good chances to recommence growth. Therefore, it’s worth taking a pause and wait till the situation clears up.

AUD061115

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

The price failed to hold below 0.7150 support and consolidated. Trading is currently carried out at 0.7160/70 marks. Indicators suggest further bearish development, both R% and MACD joined SS, which had turned down earlier, which gives reasons to expect decline towards the key support at 0.7070/80. However, until the price holds below 0.7150 mark, bulls have good chances to recommence growth. Therefore, it’s worth taking a pause and wait till the situation clears up.

AUD061115

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



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